Jerome Powell says inflation is still too high and lower economic growth is likely needed to bring it down

to the desired level. The Federal Reserve has used a variety of tools to try to get inflation down to its target rate, including interest rate cuts and quantitative easing. However, the central bank has also indicated that it is willing to keep inflation slightly above its target if needed to achieve other policy goals. These goals include reducing unemployment and encouraging economic growth. While the Fed is committed to bring inflation down to its target level, it also recognizes that it must be careful not to go too far that could hurt economic growth.

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